Here is what you need to know on Friday, March 20th:
- The EUR/USD pair fell to its lowest in almost two years, pricing at 1.0654 and settling not far above this last. Despite ECB’s QE and better performance of European and American equities, speculative interest continued to demand the safe-haven dollar.
- The Bank of England had an emergency meeting and announced a rate cut to 0.10% and an extension of QE worth £200 billion. The UK government announced its preparing to put London in lockdown, and even mobilizing military personnel to support civil authorities as part of a new “Covid Support Force.” PM Johnson is now moving to slow the spread of the virus, although his softer approach in the previous week, took its toll on the Pound. GBP/USD closed US session in the red, just above 1.15.
- The dollar’s demand and the better performance of equities sent USD/JPY to its highest since last February. The pair trades at around 110.60, despite US Treasury yields, retreated modestly.
- The AUD/USD peaked at 0.5964 and bottomed at 0.5506, a wide intraday range amid RBA’s decision, employment data, and persistent demand for the greenback. Volatility indicates hesitating sellers.
- Crude oil prices recovered up over 20% the barrel, although considering, the latest slump, the advance is moderate. WTI settled above $25.00 a barrel.
- Crypto Today: Bitcoin bulls have revived with $6000 the gateway to a recovery
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Buyers retake 0.6350 after Chinese GDP data
AUD/USD picks up fresh bids and retakes 0.6350 in Asian trading on Wednesday. The pair finds fresh demand after Chinese Q1 GDP beat estimaes with 5.4% YoY while Retail Sales and Industrial Production data also exceeded expectations. However, the further upside could be capped by US-China trade woes ahead of Powell.
Gold price hits an all-time high near $3,275
Gold price extends the rally and reached a record high near $3,275 per troy ounce during the early Asian session on Wednesday. Safe-haven demand amid US President Donald Trump's uncertain tariff plans, softer US Dollar and prospects of further easing by the Federal Reserve provide some support to the yellow metal.
USD/JPY languishes near multi-month low; seems vulnerable to slide further
USD/JPY drifts lower following the previous day's modest uptick and remains close to a multi-month low touched last week. Tariff-driven uncertainty continued to weigh on investors' sentiment. Adding to this hope for a US-Japan trade deal, the divergent BoJ-Fed policy expectations and a softer risk tone underpin the safe-haven JPY.
Binance and KuCoin traders panic as Amazon Web Service outage halts Crypto withdrawals
On Monday, a technical outage from Amazon Web Services temporarily halted operations at top cryptocurrency exchanges, including Binance and KuCoin. The outage disrupted withdrawals and trading services, sparking major concerns among cryptocurrency traders.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.